Lam Research Corporation reported fiscal year 2024 revenue of $14.9 billion, down 14.5% from $17.4 billion in FY2023, while net income decreased 15.1% to $3.8 billion. Gross margin improved to 47.3% from 44.6% year-over-year, driven by favorable customer mix, lower material costs, and higher field resource utilization. China revenue contribution increased significantly to 42% of total revenue.The company maintained strong operational execution while implementing restructuring initiatives to align costs with market conditions. R&D expenses increased 10.1% to $1.9 billion as the company continued investments in leading-edge technology development. Operating cash flow remained robust at $4.7 billion, enabling $2.8 billion in share repurchases and $1.0 billion in dividend payments.Looking ahead, Lam Research remains focused on technology inflections in semiconductor manufacturing, including 3D device scaling and advanced packaging integration. The company ended the year with $5.9 billion in cash and investments, maintaining a strong balance sheet to support future growth opportunities while navigating near-term market uncertainties.

Lam Research Corporation reported fiscal year 2024 revenue of $14.9 billion, down 14.5% from $17.4 billion in FY2023, while net income decreased 15.1% to $3.8 billion. Gross margin improved to 47.3% from 44.6% year-over-year, driven by favorable customer mix, lower material costs, and higher field resource utilization. China revenue contribution increased significantly to 42% of total revenue.The company maintained strong operational execution while implementing restructuring initiatives to align costs with market conditions. R&D expenses increased 10.1% to $1.9 billion as the company continued investments in leading-edge technology development. Operating cash flow remained robust at $4.7 billion, enabling $2.8 billion in share repurchases and $1.0 billion in dividend payments.Looking ahead, Lam Research remains focused on technology inflections in semiconductor manufacturing, including 3D device scaling and advanced packaging integration. The company ended the year with $5.9 billion in cash and investments, maintaining a strong balance sheet to support future growth opportunities while navigating near-term market uncertainties.